Where Is Gold Going In This Market

[churchill]

China’s gold imports remain massive

http://business.financialpost.com/2013/07/05/chinas-gold-imports-remain-massive/

[midas]

China’s gold imports remain massive

http://business.financialpost.com/2013/07/05/chinas-gold-imports-remain-massive/

its all those Chinese ladies

Chinese Housewives' "Gold Rush"

http://english.cri.cn/8706/2013/07/05/2561s774106.htm

[churchill]

Dubai physical gold market remains strong, with shortages and rising premiums very much visible

http://www.bi-me.com/main.php?c=3&cg=4&t=1&id=62466

[yoshiwara]

China’s gold imports remain massive

http://business.financialpost.com/2013/07/05/chinas-gold-imports-remain-massive/

its all those Chinese ladies

Chinese Housewives' "Gold Rush"

http://english.cri.cn/8706/2013/07/05/2561s774106.htm

Dubai physical gold market remains strong, with shortages and rising premiums very much visible

http://www.bi-me.com/main.php?c=3&cg=4&t=1&id=62466

Fascinating. None of us quite realised that as the gold price collapsed 25% in short order, it was in fact going up in price.

Housewives everywhere begging to pay $1300, no $1400, no $1500, no even more!

[Naam]

Dubai physical gold market remains strong, with shortages and rising premiums very much visible

http://www.bi-me.com/main.php?c=3&cg=4&t=1&id=62466

The physical side of the gold market looks strong, with shortages and rising premiums very much visible. The professional physical trading community in Dubai is looking to secure quicker, more immediate available supplies in order to satisfy its strongly growing order books. A significant amount of gold in form of large12.5 kilo bars is being shipped from gold accounts held in Zurich and London, in order to get re-melted and re-casted into Dubai Good Delivery (DGD) 1 kilo bars.

However, a lot of flights are already fully booked for valuables and delays are appearing to become more common. The premium achievable for immediate same day delivery of kilo bars in Dubai has risen from US$ 2 to US$ 3.50 per troy ounce.

some people, those who hardly ever do their homework, do not take into consideration that shipping precious metals from London or Zürich to Dubai for resale involves cost such as

-freight

-insurance

-handling

-melting

-recasting

that's why they overrate premiums of 0.20% and 0.24% added to the price of a commodity and draw conclusions out of thin air

[churchill]

Armstrong on Gold

http://armstrongeconomics.com/wp-content/uploads/2013/07/Texas-Conf.mp4

[yoshiwara]

Any relation to Lance Armstrong?

Anyway, gold down again today. Those housewife queues must be getting even longer. Thank goodness for those premiums.

[Naam]

Any relation to Lance Armstrong?

Anyway, gold down again today. Those housewife queues must be getting even longer. Thank goodness for those premiums.

who cares for the price? it's the demand which causes huge premiums that counts!

[midas]

Are You Ready to Change the Financial System?

For years the big banks and Wall Street have been manipulating, controlling, and destroying our free market system and our country for their own profits. They receive the privilege to borrow from the Federal Reserve for absolutely nothing and then either speculate in the financial markets, or loan it to us at higher rates than they borrow it from OUR Federal Reserve – loaning us our own government money. If their trades succeed, they pay themselves richly, and if their bets fail (e.g. the subprime market) - we have to bail them out.

How many Wall Street financial scandals do we need to see before we say "Enough is Enough?” How many bankers do we have to see get rich, not by the sweat of their brows, but because of their cozy relationships they have with the Federal Reserve and the government before we say “Enough is Enough?” How many politicians and regulators do we have to see get cushy jobs at the firms they are supposed to regulate before we say “Enough is Enough?”

Well we have had enough and it is time to join together and make a change.

All we need is 1 million people pledging to buy 5 ounces of silver a month.

http://www.communitysynergy.com/subscribe/silver_pledge_site.html

[yoshiwara]

Are You Ready to Change the Financial System?

For years the big banks and Wall Street have been manipulating, controlling, and destroying our free market system and our country for their own profits. They receive the privilege to borrow from the Federal Reserve for absolutely nothing and then either speculate in the financial markets, or loan it to us at higher rates than they borrow it from OUR Federal Reserve loaning us our own government money. If their trades succeed, they pay themselves richly, and if their bets fail (e.g. the subprime market) - we have to bail them out.

How many Wall Street financial scandals do we need to see before we say "Enough is Enough? How many bankers do we have to see get rich, not by the sweat of their brows, but because of their cozy relationships they have with the Federal Reserve and the government before we say Enough is Enough? How many politicians and regulators do we have to see get cushy jobs at the firms they are supposed to regulate before we say Enough is Enough?

Well we have had enough and it is time to join together and make a change.

All we need is 1 million people pledging to buy 5 ounces of silver a month.

http://www.communitysynergy.com/subscribe/silver_pledge_site.html

Rummaging around in the dustbin of hopeless ideas.

Edited July 9, 2013 by yoshiwara

[midas]

Silver Manipulation Explained In A Simple Way By Ted Butler

No one reading this has ever witnessed a giant financial organization ignoring allegations that they are breaking the law. That includes me and I admit that it seems other worldly to me that I am the one making the allegations, as that was never the plan. But that doesn’t change the fact that whatever JPMorgan does will determine the price of silver. JPMorgan recently added 100 million oz in paper shorts because no other combination of traders was willing to do so. If JPM hadn’t sold short such large quantities of paper contracts, silver prices would have exploded, threatening to expose that silver had been previously manipulated in price.

http://goldsilverworlds.com/gold-silver-experts/silver-manipulation-explained-in-a-simple-way-by-ted-butler/

[yoshiwara]

Silver Manipulation Explained In A Simple Way By Ted Butler

No one reading this has ever witnessed a giant financial organization ignoring allegations that they are breaking the law. That includes me and I admit that it seems other worldly to me that I am the one making the allegations, as that was never the plan. But that doesn’t change the fact that whatever JPMorgan does will determine the price of silver. JPMorgan recently added 100 million oz in paper shorts because no other combination of traders was willing to do so. If JPM hadn’t sold short such large quantities of paper contracts, silver prices would have exploded, threatening to expose that silver had been previously manipulated in price.

http://goldsilverworlds.com/gold-silver-experts/silver-manipulation-explained-in-a-simple-way-by-ted-butler/

All these gold and silver bugs always getting caught short by the evil institutions and yet always saying buy, buy, buy anyway in a vain attempt to finally being proved right. Such is life on Planet Eventually.

[Naam]

Ted Butler:

The moral of this story? Be sure to own physical silver and don’t worry about the daily price movements. Over the long term, fundamentals reign.

http://goldsilverworlds.com/gold-silver-experts/silver-manipulation-explained-in-a-simple-way-by-ted-butler/

Now one of the true experts in this matter is Ted Butler. He is not only respected because he is in the precious metals markets for more than three decades but also because of his tremendous inside knowledge.

Dear Mr Butler,

i don't think investors in silver worry about daily price movements. but they surely did worry about this "yearly" price movement:

[midas]

And here’s the manipulative icing on the cake – JPMorgan was able to flip a net short position in COMEX gold of 50,000 contracts in February to a net long position of 50,000 contracts on a gold price decline of as much as $350. I would submit that the singular purchase of 10 million ounces of gold (worth the equivalent of $15 billion) within four months on a greater than 20% price decline could only be accomplished if the price was manipulated lower by the purchaser. No other explanation would be possible...

JPMorgan’s emergence as the big COMEX gold long changes the dynamic of the gold market. In addition to conclusively proving that this is the most crooked and evil financial institution ever to exist, it confirms the extremely bullish set up for the gold price...

The major, too-big-to-fail, Fed-Primary-Dealer and Bullion Banks have now fully gotten themselves out from under what had been an extraordinarily wrong-footed net short position of over 146,000 contracts last autumn. They are now net long nearly 45,000 contracts! (And certainly more than that after last Wednesday and Friday.) That flip of 191,000 contracts took place while price declined by 30% from $1800 to $1250 and represents a change of position equaling over 595 metric tonnes.

http://jessescrossroadscafe.blogspot.com/2013/06/cftc-gold-and-silver-bank-participation.html

Edited July 9, 2013 by midas

[Naam]

JPMorgan was able to flip a net short position in COMEX gold of 50,000 contracts in February to a net long position of 50,000 contracts...

JPMorgan’s emergence as the big COMEX gold long changes the dynamic of the gold market. In addition to conclusively proving that this is the most crooked and evil financial institution ever to exist, it confirms the extremely bullish set up for the gold price...

that must be the reason why the price of gold went since february only up, up and up

[Naam]

solution for some posters in topics

"gold and/or financial crisis":

[midas]

Gold Borrowing Costs Hit Post-Lehman High - Hong Kong Jewellers and Banks Face Supply Issues

there are growing supply issues in Hong Kong and China (see below).

The increase in gold borrowing costs is likely due to a lack of supply of large 400 ounce bars as mints, refineries and jewellers internationally and especially in Asia are scrambling to secure supply.

Last quarter’s record slump is leading to continued physical demand especially in Asia. China in particular continues to see record demand and premiums on the Shanghai Gold Exchange are now at $24 over spot (see table above).

http://www.goldcore.com/goldcore_blog/gold-borrowing-costs-hit-post-lehman-high-hong-kong-jewellers-and-banks-face-supply-is

Edited July 10, 2013 by midas

[yoshiwara]

Gold Borrowing Costs Hit Post-Lehman High - Hong Kong Jewellers and Banks Face Supply Issues

there are growing supply issues in Hong Kong and China (see below).

The increase in gold borrowing costs is likely due to a lack of supply of large 400 ounce bars as mints, refineries and jewellers internationally and especially in Asia are scrambling to secure supply.

Last quarter’s record slump is leading to continued physical demand especially in Asia. China in particular continues to see record demand and premiums on the Shanghai Gold Exchange are now at $24 over spot (see table above).

http://www.goldcore.com/goldcore_blog/gold-borrowing-costs-hit-post-lehman-high-hong-kong-jewellers-and-banks-face-supply-is

Link from one of the usual rubbish gold-bug websites.

[cheeryble]

that must be the reason why the price of gold went since february only up, up and up

AU FEB.jpg

You know looking at your last chart Naam I'd almost be tempted to get back into the position I exited many months ago I think last year (announced on this thread for the reasons below)

Than I would look at inflation adjusted gold performance, and comparison with other commodities all of which (except gold) have the benefit ofbeing essential to life as we know it.

I would come to the conclusion that gold is a passive (= no-added-value), extremely volatile, asset which governments by their nature.....and for very sound economic reasons......don't want to base their currency on nowadays and have gradually dropped.

I would look at gold's mediocre performance during the it's perfect storm of recent years.

I would last ask myself what special abilities I have to foresee a rising or falling price better than those in London and New York so much better equipped than me to do so.

I would then say to myself......gold could do anything, but it ain't for me.

Edited July 11, 2013 by cheeryble

[midas]

A Pattern Emerges

price is down by over 30% from last September. However, almost all of the decline has taken place during the five calendar months of October, December, February, April and June. In fact, as you'll see below, the vast majority of the decline has occurred during the middle of those months

Those months are, in fact, "delivery" months for The Comex. Recall that the active futures contract is always the front month for delivery.

what is the lesson here?

• The Bullion Banks have utilized the manufactured price drop to lessen their exposure and potential liability in paper gold by over 90%.
• This resulting "discount" in paper price has led to a surge in global physical demand. For example, see here: http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=197040&sn=Detail
• However, Registered and Eligible Comex inventories are dangerously low. As of yesterday, The Comex showed 224 tonnes of Eligible and just 35 tonnes of Registered (ready for delivery).

http://www.tfmetalsreport.com/blog/4827/pattern-emerges

Edited July 11, 2013 by midas

[yoshiwara]

A Pattern Emerges

price is down by over 30% from last September. However, almost all of the decline has taken place during the five calendar months of October, December, February, April and June. In fact, as you'll see below, the vast majority of the decline has occurred during the middle of those months

Those months are, in fact, "delivery" months for The Comex. Recall that the active futures contract is always the front month for delivery.

what is the lesson here?

• The Bullion Banks have utilized the manufactured price drop to lessen their exposure and potential liability in paper gold by over 90%.
• This resulting "discount" in paper price has led to a surge in global physical demand. For example, see here: http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=197040&sn=Detail
• However, Registered and Eligible Comex inventories are dangerously low. As of yesterday, The Comex showed 224 tonnes of Eligible and just 35 tonnes of Registered (ready for delivery).

http://www.tfmetalsreport.com/blog/4827/pattern-emerges

Its amazing! 4/5 of the months gold went down there was an 'R' in the month. So there you have it...July and August the price is going back up to $2000. Mr HaveIGotACrapWebsiteForYou is right on the money.

[kblaze]

im still laughing about the silver "pledge"....

"Not only will you be buying silver as a form of savings, but you will also have a chance to WIN free silver every month.

But more importantly you will be part of a movement of change to bring down the manipulative banks and free our financial system from its shackles. In short, you will be creating a better world."

and then...

"So are you ready to take the pledge? Are ready to break the system and free us from its injustice?

If you are – and I hope you are – then join the list and buy some silver!"

straight out of the Alex Jones "fear 'em then steer 'em" playbook. YOU WANT TO IMPROVE THE WORLD? THEN BUY OUR PRODUCT!

[churchill]

Bank of England welcomes you into its vaults – via an app

http://www.guardian.co.uk/business/2013/jul/11/bank-of-england-vaults-app

[Naam]

Its amazing! 4/5 of the months gold went down there was an 'R' in the month. So there you have it...July and August the price is going back up to $2000. Mr HaveIGotACrapWebsiteForYou is right on the money.

why would the price go up in Julry and Aurgust?

[midas]

Inside the white hot Chinese gold market

http://therealasset.co.uk/chinese-gold-market/

Edited July 12, 2013 by midas

[yoshiwara]

Inside the white hot Chinese gold market

http://therealasset.co.uk/chinese-gold-market/

The website is a platform for a company flogging gold:

'How do I buy gold with The Real Asset Company? Using our platform to invest in gold is fast and simple. You’ll need to fund your gold investing account, then you’re ready to buy gold bullion.'

[midas]

Inside the white hot Chinese gold market

http://therealasset.co.uk/chinese-gold-market/

The website is a platform for a company flogging gold:

'How do I buy gold with The Real Asset Company? Using our platform to invest in gold is fast and simple. You’ll need to fund your gold investing account, then you’re ready to buy gold bullion.'

Chinese gold demand, from both individuals and central banks, garnered increasing attention as the gold price rose consistently in the last twelve years. When the gold price declined, many in the West declared the end of gold, but China (along with many other Asian nations) defiantly continued to buy gold and increase their imports.

Questions over the legitimacy and transparency of COMEX and the London Gold markets are now becoming louder, especially as increasing numbers of institutions are keen to know what actually backs those contracts. ‘Paper gold’ is on everyone’s lips.

[midas]

China has increased its purchases of precious metals exponentially to the point that the nation is now set to become the largest holder of gold and silver in the world in the next two years. This is clearly in preparation for a currency crisis event...The buying spree in Asia seems to directly contradict the "paper market" value of metals in recent weeks. Demand for gold and silver has only increased throughout most of the world, even in light of Federal Reserve suggestions that QE might end. Manipulations within metals markets by the CME and JP Morgan explain half the story, but there may be another issue at work..................................

http://www.alt-market.com/articles/1587-get-ready-for-the-next-great-stock-market-exodus

Edited July 13, 2013 by midas

[cheeryble]

'How do I buy gold with The Real Asset Company? Using our platform to invest in gold is fast and simple. You’ll need to fund your gold investing account, then you’re ready to buy gold bullion.'

So a company whose whole rains d'être is that cash is not a "real asset" is amazingly keen on earning that worthless cash and disposing of a "real asset" in exchange :-)

Edited July 15, 2013 by cheeryble

[Naam]

'How do I buy gold with The Real Asset Company? Using our platform to invest in gold is fast and simple. You’ll need to fund your gold investing account, then you’re ready to buy gold bullion.'

So a company whose whole rains d'être is that cash is not a "real asset" is amazingly keen on earning that worthless cash and disposing of a "real asset" in exchange :-)

don't you realise they are doing you a favour accepting your worthless cash and exchanging it for the one and only asset which possesses intrinsic value?